Service 02 of 11
Internal Audit External Quality Assessment (EQA)
An independent view of how well your internal audit function performs, from a focused health check to a full External Quality Assessment against the Global Internal Audit Standards.
- Why now
- Functions must be externally assessed at least every five years
- Options
- Health check, full EQA or self-assessment validation
- You get
- A conformance opinion and improvement roadmap
- Assessor
- Independent of your function
Overview
What is an internal audit quality review?
A quality review assesses how well an internal audit function conforms to the Global Internal Audit Standards and how much value it delivers to the organisation. It can be a focused health check or a formal External Quality Assessment (EQA), which the Standards require at least once every five years.
The review covers the function’s mandate and governance, independence, methodology, the quality of audit files and reports, resourcing and skills, and how the board and management perceive its work. The result is an independent opinion and a clear plan for improvement.
What it stands for
Who it’s for
When your audit function needs an independent view
The Global Internal Audit Standards require an External Quality Assessment at least once every five years by a qualified, independent assessor. Many audit committees also want a health check in between, or after a change of leadership.
- Functions due an External Quality Assessment
- New Chief Audit Executives wanting a baseline
- Audit committees questioning the value internal audit delivers
- Functions updating to the Global Internal Audit Standards
How it works
A structured, evidence-based assessment
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Stage 1
Pre-assessment
We request key documents and run a confidential survey of board members, executives and the audit team.
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Stage 2
Review
We examine the charter, methodology, audit plans, a sample of audit files, reporting and your quality programme (QAIP).
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Stage 3
Interviews
We speak with the audit committee chair, senior management and auditors to test how the function works in practice.
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Stage 4
Opinion
We give a conformance rating against the Standards, with findings, good practice and a prioritised roadmap.
An independent view of quality is the fastest way to raise internal audit’s value.
What you receive
A clear opinion and a practical roadmap
Every deliverable is tailored to your organisation and written for the people who will use it.
Conformance opinion
Rated against the Global Internal Audit Standards.
Stakeholder survey results
How the board and management see internal audit.
File review findings
Quality of planning, testing and evidence.
Improvement roadmap
Prioritised actions with suggested timing.
Methodology upgrade (option)
Updated charter, manual and templates.
Audit committee presentation
Results presented to your committee.
Benefits
The value we add
Meet the Standards
Satisfy the requirement for an independent external assessment at least every five years.
Assurance for the committee
An independent view of whether the function is fit for purpose.
Clear priorities
A ranked roadmap so effort goes where it adds most value.
Benchmarking
See how your function compares with recognised good practice.
Credibility
A positive conformance opinion strengthens internal audit’s standing with stakeholders.
Better audits
Improvements to methodology and files raise the quality of every audit that follows.
Senior-led
Delivered by chartered and certified professionals (ACA, ACCA, CIA).
Fixed fee
Scope and price agreed in writing before work starts.
Standards-aligned
Methodology aligned to the IIA Global Internal Audit Standards.
Frequently asked questions
Internal Audit Quality Reviews & EQA: your questions
How much does an External Quality Assessment cost?
It depends on the size of your function, the number of audit files reviewed and whether you choose a health check, full EQA or validation. We confirm a fixed fee after scoping.
How often is an External Quality Assessment required?
The Global Internal Audit Standards require an External Quality Assessment at least once every five years, carried out by a qualified, independent assessor or team.
What is the difference between a health check and an EQA?
A health check is a lighter, focused review to find improvement priorities. An EQA is a formal assessment that results in an opinion on conformance with the Standards.
Can you validate our self-assessment instead?
Yes. A self-assessment with independent validation is a recognised approach. We review your self-assessment and evidence and give an independent validation opinion.
Can a firm that does our audits also do our EQA?
No. The assessor must be independent of the function. We never carry out a quality assessment where we have delivered internal audit work for you.
Page last updated 2 November 2026
Internal Audit Quality Reviews & EQA by sector
- Corporates & listed companies
- Private & family-owned businesses
- Public sector & local government
- Housing associations
- Education
- Charities & not-for-profit
- Healthcare & primary care
- Construction, real estate & energy
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